QCP: Venezuela's situation may drive the crypto market higher

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Deep Tide TechFlow News, January 05, QCP released a briefing stating that the cryptocurrency market broke through range-bound trading during the Asian early trading session, with Bitcoin and Ethereum respectively surpassing the $92,000 and $3,100 levels. This round of rally coincided with the U.S. detention of Venezuelan President Maduro, along with stock market gains and weakening oil prices.

Market rumors suggest that Venezuela may hold a large amount of “shadow” Bitcoin reserves, potentially comparable in scale to institutional investors. If true, this would make Venezuela the largest sovereign holder of Bitcoin. This aligns with the country’s trend since 2024 of using cryptocurrencies such as USDT in oil trading.

The options market shows that investor sentiment has turned positive, with a decrease in put skewness. Over 3,000 contracts of $100,000 call options expiring on January 30, 2026, have been purchased since last week. However, analysts warn that the pattern of continued retracement during U.S. trading hours should still be watched carefully.

BTC-0.5%
ETH1.07%
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